Chapter

8-1

CHAPTER 8

VALUATION OF INVENTORIES:
A COST-BASIS APPROACH

Intermediate Accounting
13th Edition
Kieso, Weygandt, and Warfield

Chapter
8-2
 Valuation of Inventories:
Cost-Basis Approach

Biaya yg
Barang fisik yang
Inventory dimasukkan Asumsi arus LIFO: Special
dimasukkan Dasar pemilihan
Issues dlm biaya Issues
dalam persediaan
persediaan

klasifikasi Barang dlm Biaya produk Identifikasi LIFO reserve Ikhtisarmetode

Arus biaya perjalanan Biaya periode khusus LIFO liquidation penilaian
Barang Biaya rata-rata persediaan
pengendalian Diskon Dollar-value
konsinyasi pembelian FIFO LIFO
Penilaian
persediaan Perjanjian LIFO Comparison of
dasar penjualan LIFO approaches
khusus
Advantages of
Kesalahan LIFO
persediaan
Disadvantages of
LIFO

Chapter
8-3

Inventory Issues

Classification
Persediaan adalah:
Pos-pos aset yang dimiliki perusahaan untuk dijual dalam
operasi bisnis normal, or
Barang yang akan digunakan atau dikonsumsi dalam
membuat barang yang akan dijual.

Jenis perusahaan dengan persediaan:

Merchandiser or Manufacturer
(perusahaan (perusahaan
dagang) manufaktur)
Chapter
8-4
 Inventory Issues

Illustration 8-1
Classification

Hanya satu akun

persediaan
Barang yang
dibeli dalam
bentuk yang siap
untuk dijual

Chapter
8-5 LO 1 Identify major classifications of inventory.

Inventory Issues

Illustration 8-1
Classification

3 akun persediaan
Raw materials
Work in process
Finished goods

Chapter
8-6 LO 1 Identify major classifications of inventory.
 Inventory Issues

Inventory Cost Flow Illustration 8-2

Chapter
8-7 LO 1 Identify major classifications of inventory.

Inventory Issues

Arus biaya persediaan

Illustration 8-3

Perusahaan menggunakan salah satu dari 2 jenis sistem agar

pencatatan persediaan tetap akurat— perpetual system or
periodic system.
Chapter
8-8 LO 1 Identify major classifications of inventory.
 Inventory Cost Flow

Perpetual System
1. Pembeliaan barang dagang didebet pada persediaan.
2. Biaya transportasi di debit ke persediaan. Retur pembelian
dan pengurangan harga serta diskon pembelian dikredit pada
persediaan
3. Harga pokok penjualan diakui untuk setiap penjualan dengan
mendebit akun HPP dan mengkredit persediaan.
4. Buku besar pembantu memperlihatkan kuantitas dan biaya
dari persediaan.

Sistem persediaan perpetual menyediakan catatan yang

berkelanjutan tentang saldo baik dalam akun persediaan
maupun harga pokok penjualan.
Chapter
8-9 LO 2 Distinguish between perpetual and periodic inventory systems.

Inventory Cost Flow

Periodic System

1. Pembelian persediaan dicatat dengan mendebit ke

pembelian.
2. Persediaan akhir dihitung dengan perhitungan fisik.
3. Perhitungan Cost of Goods Sold (harga pokok
penjualan):
Beginning inventory $ 100,000
Purchases, net 800,000
Goods available for sale 900,000
Ending inventory 125,000
Cost of goods sold $ 775,000
Chapter
8-10
 Inventory Cost Flow

Illustration: Fesmire Company memiliki transaksi-transaksi

berikut selama tahun berjalan.

Catatlah transaksi tersebut selama tahun berjalan dengan

metode perpetual dan periodik.

Chapter
8-11 LO 2 Distinguish between perpetual and periodic inventory systems.

Inventory Cost Flow

Illustration: Illustration 8-4

Chapter Solution on
8-12 notes page LO 2 Distinguish between perpetual and periodic inventory systems.
 Inventory Cost Flow

Illustration: Asumsi pada akhir periode akun persediaan

melaporkan saldo persediaan $4,000. tetapi hasil
perhitungan fisik menunjukkan jumlah persediaan aktual
sebesar $3,800. ayat jurnal yang diperlukan adalah sebagai
berikut :

Kelebihan dan kekurangan persediaan 200

persediaan 200

Note: Inventory Over and Short adjusts Cost of Goods Sold. In practice,
companies sometimes report Inventory Over and Short in the “Other revenues
and gains” or “Other expenses and losses” section of the income statement.

Chapter
8-13 LO 2 Distinguish between perpetual and periodic inventory systems.

Biaya-biaya yang harus dimasukkan dalam persediaan

Product Costs – biaya yang melekat pada

persediaan, yang berhubungan langsung dengan
transfer barang ke lokasi bisnis pembeli dan
pengubahan barang tersebut ke kondisi siap jual.
Period Costs – biaya yang terkait secara tidak
langsung dengan akuisisi atau produksi barang. Co:
biaya penjualan dan administrasi.
Purchase Discounts –Gross vs. Net Method

Chapter
8-14 LO 4 Understand the items to include as inventory cost.
 Costs Included in Inventory

Treatment of Purchase Discounts

Illustration 8-11

**

* $4,000 x 2% = $80 Solution on

** $10,000 x 98% = $9,800 notes page
Chapter
8-15 LO 4 Understand the items to include as inventory cost.

Asumsi arus biaya apa yg harus dipakai?

FIFO LIFO

Asumsi arus biaya yg dipakai

Tidak harus sama
Pergerakan fisik barang

Average Cost Specific Identification

Answer: memilih asumsi yang paling

mencerminkan laba periodik sesuai dengan
Chapter
kondisi yang berlaku
8-16
 Asumsi arus biaya

Example
Young & Crazy Company melakukan transaksi sbb:
1. One item on 2/2/07 for $10
2. One item on 15/2/07 for $15
3. One item on 25/2/07 for $20
Young & Crazy Company menjual 1 item pada 28/2/11 dg
harga $90. mana yang akan menjadi saldo persediaan
akhir dan harga pokok penjualan untuk akhir bulan Feb.
2011, asumsi perusahaan menggunakan asumsi arus biaya
FIFO, LIFO, Average Cost, and Specific Identification?
Asumsi pajak 30%.
Chapter
8-17
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Cost Flow Assumptions

“First-In-First-Out (FIFO)”
Inventory Young & Crazy Company
Income Statement
Balance = $ 45 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 0
2/25/07 for $20 Gross profit 90
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 57
Purchase on Taxes 17
2/2/07 for $10 Net Income $ 40
Chapter
8-18
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 Cost Flow Assumptions
“First-In-First-Out (FIFO)”
Inventory Young & Crazy Company
Income Statement
Balance = $ 35 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 10
2/25/07 for $20 Gross profit 80
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 47
Purchase on Taxes 14
2/2/07 for $10 Net Income $ 33
Chapter
8-19
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Cost Flow Assumptions

“Last-In-First-Out (LIFO)”
Inventory Young & Crazy Company
Income Statement
Balance = $ 45 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 0
2/25/07 for $20 Gross profit 90
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 57
Purchase on Taxes 17
2/2/07 for $10 Net Income $ 40
Chapter
8-20
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 Cost Flow Assumptions
“Last-In-First-Out (LIFO)”
Inventory Young & Crazy Company
Income Statement
Balance = $ 25 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 20
2/25/07 for $20 Gross profit 70
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 37
Purchase on Taxes 11
2/2/07 for $10 Net Income $ 26
Chapter
8-21
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Cost Flow Assumptions

“Average Cost”
Inventory Young & Crazy Company
Income Statement
Balance = $ 45 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 0
2/25/07 for $20 Gross profit 90
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 57
Purchase on Taxes 17
2/2/07 for $10 Net Income $ 40
Chapter
8-22
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 Cost Flow Assumptions
“Average Cost”
Inventory Young & Crazy Company
Income Statement
Balance = $ 30 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 15
2/25/07 for $20 Gross profit 75
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 42
Purchase on Taxes 12
2/2/07 for $10 Net Income $ 30
Chapter
8-23
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Cost Flow Assumptions

“Specific Identification”
Inventory Young & Crazy Company
Income Statement
Balance = $ 45 For the Month of Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 0
2/25/07 for $20 Gross profit 90
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 57
Purchase on Taxes 17
2/2/07 for $10 Net Income $ 40
Chapter
8-24
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 Cost Flow Assumptions
“Specific Identification”
Inventory Young & Crazy Company
Income Statement
Balance = $ 45
Depends whichof one
For the Month is sold
Feb. 2007

Sales $ 90
Purchase on Cost of goods sold 0
2/25/07 for $20 Gross profit 90
Expenses:
Administrative 14
Purchase on Selling 12
2/15/07 for $15 Interest 7
Total expenses 33
Income before tax 57
Purchase on Taxes 17
2/2/07 for $10 Net Income $ 40
Chapter
8-25
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Cost Flow Assumptions

Financial Statement Summary
FIFO LIFO Average
Sales $ 90 $ 90 $ 90
Cost of goods sold 10 20 15
Gross profit 80 70 75
Operating expenses:
Administrative 14 14 14
Selling 12 12 12
Interest 7 7 7
Total expenses 33 33 33
Income before taxes 47 37 42
Income tax expense 14 11 12
Net income $ 33 $ 26 $ 30

Inventory Balance 35 25 30
Chapter
8-26
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 Cost Flow Assumptions

Illustration: Call-Mart Inc. melakukan transaksi-transaksi

berikut selama bulan pertama operasinya.

Menghitung persediaan yang tersedia untuk dijual

Persediaan awal (2,000 x $4) $ 8,000
pembelian:
6,000 x $4.40 26,400
2,000 x 4.75 9,500
Barang tersedia untuk dijual (BTUD) $43,900
Chapter
8-27 LO 5

Specific Identification
Illustration: asumsi 6,000 unit persediaan Call-Mart Inc. terdiri
dari 1,000 units yang berasal dari pembelian tg 2 March, 3,000 dari
pembelian tg 15 March, dan 2,000 dari pembelian 30 March.
Hitunglah jumlah persediaan akhir dan harga pokok penjualan !
Illustration 8-12

Solution on
Chapter
notes page
8-28
 Average Cost
Weighted-Average Illustration 8-13

Chapter Solution on
8-29 notes page
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Average Cost

Moving-Average
Illustration 8-14

Dalam metode ini Call-Mart menghitung biaya rata-rata

unit yang baru setiap kali pembelian dilakukan

Chapter Solution on
8-30 notes page
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 First-In, First-Out (FIFO)

Metode periodik
Illustration 8-15

Biaya persediaan akhir dihitung dengan mengambil biaya dari pembelian

paling terakhir dan dikerjakan kembali sampai semua unit dalam
persediaan diperhitungkan
Chapter Solution on
8-31 notes page
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

First-In, First-Out (FIFO)

Metode perpetual
Illustration 8-16

Dalam semua kasus FIFO, persediaan dan harga pokok penjualan akan
sama pada akhir bulan terlepas dari apakah yang dipakai adalah sistem
persediaan perpetual atau periodik

Chapter Solution on
8-32 notes page
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.
 Last-In, First-Out (LIFO)

Periodic Method
Illustration 8-17

Biaya dari total kuantitas yang terjual atau dikeluarkan selama suatu
bulan berasal dari pembelian paling akhir.

Chapter Solution on
8-33 notes page
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.

Last-In, First-Out (LIFO)

Perpetual Method
Illustration 8-18

Perhitungan persediaan akhir dengan metode periodik dan metode

perpetual menghasilkan hasil yang berbeda jika menggunakan metode
LIFO.

Chapter Solution on
8-34 notes page
LO 5 Describe and compare the cost flow assumptions
used to account for inventories.